On July 21, 2010, President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act, the most sweeping financial reform legislation in over a generation. Gibson Dunn panelists discuss the regulatory initiatives in the bill that are likely to be of interest and concern to the wide range of companies affected by the bill.
As we move into the implementation phase of this legislation, companies will need to understand how this bill affects their business. Mark Oesterle, Republican Chief Counsel, Senate Banking Committee, joins the Gibson Dunn team to provide an insider’s perspective on what is meant by many of the bill’s most important – yet not always crystal clear – provisions.
Topics discussed:
- Capital requirements for banks, holding companies and supervised nonbank financials
- Living Wills – The emerging coordinated cross-border approach to rapid resolution plans
- Implementation issues arising from the bill’s resolution authority provisions, including liquidation of failed/failing financial companies, claims processes, and financial assistance and assessments
- Registration of private fund advisers
- The revised definition of "accredited investor"
- The standard of care for broker-dealers and investment advisers
- Implications of the Volcker Rule
- How the derivatives provisions in Title VII of the Act are likely to be applied to swap dealers, major swap participants, and end-users
- New "whistleblower" rewards and protections
- Expanded SEC authority to impose administrative fines and sanctions
- Executive compensation and corporate governance provisions, including say-on-pay votes required beginning in 2011
- Establishment of the Bureau of Consumer Financial Protection
Our Panelists:
Mark F. Oesterle — Chief Republican Counsel and Deputy Chief of Staff, U.S. Senate Committee on Banking
Michael D. Bopp — Chairs Gibson Dunn’s Financial Services Crisis Team and Co-Chairs the Public Policy Group; practices within the firm’s White Collar Defense and Investigations and Crisis Management practice groups. He has developed the strategy and set the agenda for dozens of investigations, conducted more than 100 depositions or witness interviews, managed dozens of subpoenas and massive document discovery efforts, and orchestrated more than 100 committee hearings.
Elizabeth A. Ising — Partner in the Securities Regulation and Corporate Governance practice group in Gibson Dunn’s Washington, D.C. office. Her practice focuses on corporate governance, securities regulation and disclosure issues as well as executive compensation.
Michael A. Rosenthal — Partner and Co-Chair of the firm’s Business Restructuring and Reorganization Practice Group. Based in New York, Mr. Rosenthal has extensive experience in reorganizing distressed businesses and related corporate reorganization and debt restructuring matters.
John H. Sturc — Partner and Co-Chair of the firm’s Securities Enforcement Practice Group. He joined the Firm’s Washington, D.C. office in 1990, where he focuses on securities and financial institutions enforcement matters, securities law, internal investigations, and criminal and civil litigation.
K. Susan Grafton — Of counsel in Gibson Dunn’s Washington, D.C. office. She focuses her practice on advising broker-dealers and investment advisers on their business, regulatory, and compliance issues, and is nationally ranked by Chambers USA 2010 as a leading lawyer for Financial Services Regulation: Broker-Dealer (Compliance).
Kimble C. Cannon — Of counsel in the Los Angeles office of Gibson Dunn and a member of the firm’s Corporate Transactions Practice Group and Financial Institutions Group.
Nikesh Jindal — Associate in the firm’s Washington, D.C. office. He currently practices in the firm’s Litigation Department and is a member of the Administrative Law and Regulatory and White Collar Defense and Investigations Practice Groups.
MCLE Credit Information:
Gibson, Dunn & Crutcher LLP certifies that this activity has been approved for MCLE credit by the State Bar of California in the amount of 1.25 hours.
California attorneys may claim "self-study" credit for viewing the archived version of this webcast. No certificate of attendance is required for "self-study" credit.
Please contact Jeanine McKeown at 213-229-7140 or [email protected] with questions about CLE credit.